FXTechstrategy Team: Forex Analysis

What does January holds for EURUSD having continued to hold its medium term downtrend

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AUDUSD Broader Risk Remains Higher Towards 0.7337 Zone

AUDUSD broader risk remains higher with strength expected towards its resistance located at 0.7337 level. On the upside, resistance lies at the 1.7350 level. A cut through here will turn attention to the 0.7400 level and then the 0.7450 level where a violation will set the stage for a retarget of the 0.7500 level. Support resides at the 0.7250 level where a breach will aim at the 0.7200 level. Below here will set the stage for a run at the 0.7150 level with a cut through here targeting further downside pressure towards the 0.7100 level. On the whole, AUDUSD faces further upside

AUDUSDDaily-1.png
 
USDCHF Backs Off Lower Prices On Price Correction

USDCHF faces backs off lower prices on price correction. This development leaves risk of more gain on the cards in the coming. On the downside, support lies at the 0.9950 level. A turn below there will set the stage for more decline towards the 0.9900 level. And then the 0.9850 level. On the upside, resistance resides at the 1.0000 level where a break will clear the way for more gain towards the 1.0050 level. Above here, resistance comes in at the 1.0100 level and then the 1.0150 level. Its daily RSI is bullish and pointing higher suggesting further strength. All in all, USDCHF faces further price correction but with caution.

USDCHFDaily-1.png
 
EURGBP Remains Vulnerable Below Key Resistance At 0.8932

EURGBP remains vulnerable below key resistance at 0.8932. This leaves risk of more decline on the cards. On the downside, support stands at the 0.8800 level where a violation will turn focus to the 0.8750 level. A break below here will aim at the 0.8700 level This leaves upside risk towards the 0.8950 level. A violation if seen will turn risk towards the 0.9000 level. Further up, resistance comes in at 0.9050 level followed by the 0.9100 level. All in all, EURGBP remains biased to the downside on correction

EURGBPDaily-1.png
 
USDJPY Threatens 113.62 Resistance Zone On Bull Pressure

USDJPY threatens 113.62 resistance zone on bull pressure. This is coming on the back of its Monday strength. On the upside, resistance comes in at 114.00 level. Above here will turn focus to the 114.50 level. Further out, we expect a possible move towards the 115.00 level if the earlier level is taken out. Above here will open the door for more strength towards the 115.50. Its daily RSI is bullish and pointing higher suggesting further strength. On the downside, support comes in at the 113.00 level where a break will target the 112.50 level. A break through that level will turn focus to the 112.00 level and then lower towards the 112.00 level. On the whole, USDJPY faces further upside pressure.

USDJPYDaily-3.png
 
GBPUSD Outlook Remains Lower With Eyes On 1.2690 Zone

GBPUSD outlook remains lower with eyes on 1.2690 zone. The pair retains its broader downtrend supporting its present directional move. Support comes in at 1.2750 level. Further down, support stands at the 1.2690 level where a breach will turn focus to the 1.2650 level. Further down, support is seen at the 1.2600 level. Below here will set the stage for additional weakness towards the 1.2550 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance lies at the 1.2800. A turn above here will allow for further strength towards the 1.2850 level. Further out, resistance comes in at the 1.2950 level and then the 1.3000 level. On the whole, GBPUSD faces further downside pressure medium term.

GBPUSDDaily-2.png
 
EURUSD Bear Pressure Builds Up Towards 1.1215 Zone

EURUSD bear pressure builds up towards 1.1215 zone as it looks to extend its weakness. Support stands at the 1.1200 where a break will aim at the 1.1150 level. A break below here will target the 1.1100 level. Further down, support lies at the 1.1050. On the upside, resistance comes in at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to face downside pressure.

EURUSDDaily-1.png
 
AUDUSD Bull Pressure Builds Up Towards 0.7337/81 Zone

AUDUSD bull pressure bulls up towards 0.7337/81 zone as more strength is expected. On the upside, resistance lies at the 1.7400 level. A turn above here will shift attention to the 0.7450 level and then the 0.7500 level. A violation will set the stage for a retarget of the 0.7550 level. Its daily RSI is bullish and pointing higher suggesting further strength. Support is seen at the 0.7300 level where a breach will aim at the 0.7250 level. Below here will set the stage for a run at the 0.7200 level with a cut through here targeting further downside pressure towards the 0.7150 level. On the whole, AUDUSD faces further upside pressure with eyes its resistance zone at 0.7381

AUDUSDDaily-2.png
 
EURGBP Remains On Offensive With Further Recovery Threats

EURGBP remains on offensive with further recovery threats. On the downside, support stands at the 0.8900 level where a violation will turn focus to the 0.8850 level. A break below here will aim at the 0.8800 level. On the upside, resistance lies at the 0.8950 level. A violation if seen will turn risk towards the 0.9000 level. Further up, resistance comes in at 0.9050 level followed by the 0.9100 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, EURGBP remains biased to the upside on further correction
 
AUDUSD Upside Momentum Stalled, Eyes More Correction

AUDUSD upside momentum stalled with eyes on more weakness in the days ahead. On the upside, resistance lies at the 1.7350 level. A cut through here will turn attention to the 0.7400 level and then the 0.7450 level where a violation will set the stage for a retarget of the 0.7500 level. Support resides at the 0.7250 level where a breach will aim at the 0.7200 level. Below here will set the stage for a run at the 0.7150 level with a cut through here targeting further downside pressure towards the 0.7100 level. Its daily RSI is bearish and pointing lower suggesting further weakness. On the whole, AUDUSD faces further upside threats.

AUDUSDDaily.png
 
EURUSD Continues To Target The 1.1215 Support Zone

EURUSD continues to target the 1.1215 support zone as downside pressure remains intact. Support lies at the 1.1300 where a violation will aim at the 1.1250 level. A break below here will aim at the 1.1200 level. Further down, support lies at the 1.1150. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to face downside pressure.

EURUSDDaily.png
 
EURGBP Continues To Target Higher Prices

EURGBP faces further recovery threats following its higher close the past week. On the downside, support stands at the 0.8900 level where a violation will turn focus to the 0.8850 level. A break below here will aim at the 0.8800 level. Resistance lies at the 0.8950 level. A violation if seen will turn risk towards the 0.9000 level. Further up, resistance comes in at 0.9050 level followed by the 0.9100 level. Its weekly RSI is bullish and pointing higher suggesting more strength. All in all, EURGBP remains biased to the upside on further bull pressure

EURGBPWeekly.png
 
EURUSD Eyes Further Upside Pressure Nearer Term

EURUSD continues to face further recovery higher. Support lies at the 1.1350 where a violation will aim at the 1.1300 level. A break below here will aim at the 1.1250 level. Further down, support lies at the 1.1200. On the upside, resistance resides at 1.1450 level with a break through there opening the door for further upside towards the 1.1500 level. Further up, resistance comes in at the 1.1550 level where a violation will expose the 1.1600 level. Its daily RSI is bullish and pointing higher suggesting further upside. All in all, EURUSD continues to face downside pressure.

EURUSDWeekly.png
 
CRUDE OIL Targets More Decline In The Short Term

CRUDE OIL targets more decline in the short term leaving 50.07 as the next price key target. Support lies at the 49.50 level where a break will expose the 49.00 level. A cut through here will set the stage for a run at the 48.50 level. Further down, support comes in at the 48.00 level. On the upside, resistance resides at the 52.50 level. Further out, resistance comes in at the 53.00 level. A break above here will aim at the 53.50 level and then the 54.00 level followed by the 54.50 level. All in all, CRUDE OIL remains biased to the downside in the short term.

WTI.fsDaily.png
 
USDCAD Broader Bias Remains Higher On Further Bullishness

USDCAD Broader Bias Remains Upside On Further Bullishness on further bullishness. Support comes in at the 1.3350 level where a break will aim at the 1.3300 level. Further down, support comes in at the 1.3250 level where a turn lower may occur. But if further weakness is triggered support comes in at the 1.3200 level. Conversely, resistance lies at the 1.3450 level where a violation will target the 1.3500 level. Further up, resistance resides at the 1.3550 level and then the 1.3600 level. Its daily RSI is bullish and pointing higher suggesting more strength. All in all, USDCAD looks to strengthen further in the days ahead.

USDCADDaily.png
 
NZDUSD Extends Bearish Pressure On Price Sell Off

NZDUSD extends bearish pressure on price sell off with more decline expected towards 0.6800 support. Further down, support stands at the 0.6750 level. Further down, the 0.6700 level comes in as the next downside target. Its daily RSI is bearish and pointing lower suggesting further weakness. On the upside, resistance resides at the 0.6850 level where a break will turn attention to the 0.6900 level. A break of here will have to occur to create scope for a move towards the 0.6950 level. Further out, resistance stands at the 0.7000 level. All in all, NZDUSD faces further downside pressure on sell off.
 
USDJPY Bull Pressure Builds Up On 113.81 Resistance Zone

USDJPY bull pressure builds up on113.81 resistance zone and now leaves risk of a move towards the 113.81. On the upside, resistance comes in at 114.00 level. Above here will turn attention to the 114.50 level. Further out, we expect a possible move towards the 115.00 level if the earlier resistance is taken out. Above here will open the door for more gain towards the 115.50. On the downside, support comes in at the 113.00 level where a break will target the 112.50 level. Below that level will turn focus to the 112.00 level and then lower towards the 111.50 level. On the whole, USDJPY faces further upside pressure on more upside.
 
USDJPY Bull Pressure Builds Up On 113.81 Resistance Zone

USDJPY bull pressure builds up on113.81 resistance zone and now leaves risk of a move towards the 113.81. On the upside, resistance comes in at 114.00 level. Above here will turn attention to the 114.50 level. Further out, we expect a possible move towards the 115.00 level if the earlier resistance is taken out. Above here will open the door for more gain towards the 115.50. On the downside, support comes in at the 113.00 level where a break will target the 112.50 level. Below that level will turn focus to the 112.00 level and then lower towards the 111.50 level. On the whole, USDJPY faces further upside pressure on more upside.

USDJPYDaily.png
 
USDCHF Remains Offensive On Bull Pressure

USDCHF remains on offensive on bull pressure with eyes on key resistance at 1.0007 level. Resistance resides at the 1.0050 level. A break will clear the way for more gain towards the 1.0100 level. Above here, resistance comes in at the 1.0150 level and then the 1.0200 level. Its daily RSI is bullish and pointing higher suggesting more strength. On the downside, support is seen at the 0.9950 level. A turn below there will set the stage for more decline towards the 0.9900 level. And then the 0.9800 level. All in all, USDCHF faces further price recovery threats.

USDCHFDaily.png
 
EURUSD Broader Bias Remains Lower

EURUSD remains biased to the downside on further corrective pullback. Support lies at the 1.1250 where a violation will aim at the 1.1200 level. A break below here will aim at the 1.1150 level. Further down, support lies at the 1.1100. On the upside, resistance resides at 1.1350 level with a break through there opening the door for further upside towards the 1.1400 level. Further up, resistance comes in at the 1.1450 level where a violation will expose the 1.1500 level. All in all, EURUSD continues to face downside towards key support.

EURUSDWeekly.png
 
GOLD Remains Weak And Vulnerable To The Downside

GOLD remains weak and vulnerable to the downside as it looks for more weakness. On the downside, support comes in at the 1,230.00 level where a break will turn attention to the 1,220.00 level. Further down, a cut through here will open the door for a move lower towards the 1,210.00 level. Below here if seen could trigger further downside pressure targeting the 1,1200.00 level. Conversely, resistance resides at the 1,250.00 level where a break will aim at the 1,260.00 level. A turn above there will expose the 1,270.00 level. Further out, resistance stands at the 1,280.00 level. All in all, GOLD looks to weaken further lower
 
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